IBEX
IBEX Limited
IBEX has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over IBEX overall, supported by stronger modeled upside and stronger fundamentals.
IBEX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Strong |
IBEX's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
IBEX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $33.48 | -39% |
| Fair | 13x | $42.92 | -22% |
| Forward | 14x | $54.87 | — |
| Current | 17x | $54.87 | — |
| Expensive | 20x | $66.14 | +21% |
Historical ranges are pointers, not guarantees.
IBEX's PE is in its expensive range at 17x. If earnings grow as analysts expect, today's price would be 14x next year's earnings, in its fair range.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over IBEX in the historical PE scenario, which offers more potential upside but is not a forecast.
IBEX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for IBEX, with profitability holding steady.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over IBEX on the outlook, with more favorable profitability expectations.
IBEX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.95 | +20% |
| Q3 2026 | $3.30 | +20% |
| Q2 2026 | $3.13 | +33% |
| Q1 2026 | $3.17 | +39% |
| Q4 2025 | $3.01 | +42% |
| Q3 2025 | $2.75 | +46% |
| Q2 2025 | $2.36 | +28% |
| Q1 2025 | $2.28 | +49% |
| Q4 2024 | $2.12 | +35% |
IBEX's earnings per share have climbed steadily: $3.30 over the past year, up 20% from the year before, and higher year over year for 17 quarters in a row.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over IBEX in the latest year-over-year earnings comparison.
IBEX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $175.2M | +16% |
| Q2 2026 | $164.3M | +12% |
| Q1 2026 | $164.4M | +17% |
| Q4 2025 | $164.2M | +17% |
| Q3 2025 | $151.2M | +17% |
| Q2 2025 | $147.1M | +18% |
| Q1 2025 | $140.7M | +11% |
| Q4 2024 | $140.7M | +6.1% |
IBEX's revenue has grown year over year for 10 quarters in a row: $175M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 10% | +1.4 points |
| Q2 2026 | 6% | -2.3 points |
| Q1 2026 | 9.8% | +0.4 points |
| Q4 2025 | 9.3% | +0.8 points |
| Q3 2025 | 9.1% | +2.1 points |
| Q2 2025 | 8.3% | -2 points |
| Q1 2025 | 9.5% | +0.6 points |
| Q4 2024 | 8.5% | +3.2 points |
IBEX's operating margin was 10% last quarter, up 1.4 points from the same quarter a year ago, near the top of its range since 2019.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over IBEX on profitability, with a higher operating margin.
IBEX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $9.2M | +14% |
| Q2 2026 | $21.7M | -4.9% |
| Q1 2026 | $6.6M | +85% |
| Q4 2025 | -$5.1M | -$1.9M |
| Q3 2025 | $8M | +94% |
| Q2 2025 | $22.8M | +50% |
| Q1 2025 | $3.6M | -63% |
| Q4 2024 | -$3.2M | +$1.4M |
IBEX still generates free cash flow, though less than at its 2022 peak: $32M over the past year.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over IBEX on cash flow, with more consistent year-over-year improvement.
IBEX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +187K shares |
| 1 year | +2.6% | +386K shares |
| 3 years | -21% | -3.9M shares |
| 5 years | -21% | -3.9M shares |
| Available history | -15% | -2.7M shares |
IBEX has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.5M |
| Q2 2026 | $4.2M |
| Q1 2026 | $4.6M |
| Q4 2025 | $2.8M |
| Q3 2025 | $2.8M |
| Q2 2025 | $1.6M |
| Q1 2025 | $25.1M |
| Q4 2024 | $46.6M |
IBEX spent $16M buying back its own shares over the past year, down 79% from the year before.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
IBEX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | -0.2x | Net Cash |
IBEX has the edge over SNDK on leverage, with a lower net debt burden relative to earnings.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has more cash than debt.
IBEX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 78.3 | Overbought |
| Stochastic | 91.0 | Overbought |
IBEX's weekly RSI is 78 (overbought) and its Stochastic is 91 (overbought).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
IBEX PE vs Technology Sector
| Metric | IBEX | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 28x | 40% below |
| PE % | 73 | 37 | 36 pts above |
IBEX is trading at 17x earnings, a 40% discount to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over IBEX on valuation relative to its sector.
IBEX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $46.8 | 17% above |
| 20 week MA | $40.6 | 35% above |
| 50 week MA | $35.5 | 54% above |
| 100 week MA | $32.3 | 70% above |
| 200 week MA | $25.5 | 115% above |
IBEX has stronger trend alignment. IBEX is above 5 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
IBEX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.4 | $20.1 | +30% |
| 2021 | $20.1 | $13.9 | -31% |
| 2022 | $13.9 | $25.6 | +84% |
| 2023 | $25.6 | $19.0 | -26% |
| 2024 | $19.0 | $21.4 | +13% |
| 2025 | $21.4 | $38.5 | +80% |
| 2026 YTD | $38.5 | $54.9 | +43% |
IBEX has finished higher in four of the last six years, two of them by more than 50%. It's up 43% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over IBEX on returns for 2026, with the stronger performance.